The council was committed to the efficient and effective management of its Property and Landholdings. This was in accordance with adopted policy as a primary method of delivering service obligations. These were to maintain the quality and capacity of the council’s land and buildings, to provide accommodation for the development of business in North Lincolnshire, to address market failure and to provide substantial income in support of achieving the council’s priorities.

In addition to effectively managing the day to day business of the portfolio it was necessary to take a macro viewpoint to annually review the performance of the most significant premises. This would inform decisions on the retention of or investment in the premises.

The performance and review of the portfolio was summarised in the appendix to the report, it included recommendations for retention and investment.

Resolved – That the information in the report and accompanying appendix be noted.

The council operated an Industrial and Commercial Property, Management and Development Policy. The policy allowed the use of PTA funds for development schemes. The schemes were linked to the council’s wider Regeneration Agenda and Strategy.

The policy required than an annual strategy document was produced. It was subject to review at six monthly intervals to approve and report on the progress of the projects.

Most schemes were property related. They required a period of negotiation to achieve best value for money. Pre-approved funding was essential for this to happen. Negotiations would result in a legal commitment by the council. Some schemes also depended on the approval of external funding before they could start.

Resolved – (a) That the provisional allocation of Property Trading Account funds against the proposed development schemes, listed at Appendix 1 to the report, be approved, and (b) that the Director of Places be authorised to progress negotiations with a view to taking forward the approved schemes.

11 (11) PROPERTY TRADING ACCOUNT – ROLLING PLAN – The Director of Places submitted a report setting out the estimated Capital and Revenue position for the Property Trading Account (including the Commercial and Non Operational Portfolios) for the next five years.

The Property Trading Account Management Strategy contained a requirement to provide a three to five year plan (reviewed annually) for approval by the Cabinet Member. This plan informed the council’s budget management process. It set out current capital and revenue targets and outlined proposals for capital investments and revenue expenditure for future years.

The situation would be reviewed in six months time; the approach may be changed, depending on the outcome of the review.

Resolved – That the Property Trading Account Rolling Plan, as set out in the report and accompanying appendices, and the operational changes, as set out in paragraph 3.1 of the report, be approved.

12 (12) PROPERTY TRANSACTION SCHEDULE – The Director of Places submitted a report for consideration, and where necessary, approval of a schedule containing the terms of all recently negotiated property transactions.